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are taxing hours? we think the current tax code destroying jobs. it makes american business is much less competitive. that is why the ways and means committee wants to get more people working again. >> is that a shift in approach? >> our approach reflects exactly what the president's joint chiefs season minimum levels necessary to fund the mission for the pentagon. this is our first priority -- national defense. we're funding at the levels the joint chiefs say is necessary to maintain national security. >> you're talking about how the fiscal cliff deal and other improvements major job easier, but you still have to take steps to get a balance. what are those steps? >> one is a budget control act. we extend the budget control act. we also want to extend reforms on the public workforce on federal employees to include all federal employees so that their pension contribution matches those that are in the private sector. we do not think federal employees should be able to have pension systems that are far in
are taxing hours? we think the current tax code destroying jobs. it makes american business is much less competitive. that is why the ways and means committee wants to get more people working again. >> is that a shift in approach? >> our approach reflects exactly what the president's joint chiefs season minimum levels necessary to fund the mission for the pentagon. this is our first priority -- national defense. we're funding at the levels the joint chiefs say is necessary to...
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Mar 17, 2013
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continue raising taxes? let's control spending. washington spending is in the highest level in the history of our country. there's not a tax ref new problem. there's a spending problem. it's not only hurting washington and our ability to balance the budget. it's hurting our economy. and people in the country are going wait a minute. we manage to live within our means. why can't washington figure this out? >> we're at record low levels in terms of discretionary spending. we haven't had it this low since the eisenhower administration. so where does that come from? because as you know, democrats are not going to touch those entitlement programs unless you are willing to touch revenue. do you think we can really cut more? >> it's going to have to be addressed one way or another. mandatory spending is the biggest part hasn't been addressed by congress. obama care is part of mandatory spending. every report of obama care each report says it's going to cost more money and add more to the deficit than the prior repo
continue raising taxes? let's control spending. washington spending is in the highest level in the history of our country. there's not a tax ref new problem. there's a spending problem. it's not only hurting washington and our ability to balance the budget. it's hurting our economy. and people in the country are going wait a minute. we manage to live within our means. why can't washington figure this out? >> we're at record low levels in terms of discretionary spending. we haven't had it...
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it also means arranging our tax system so is that we have economic growth. and i think we have been saying that from day one. >> chris: well, senator durbin, i heard some give there from senator corker. let me he ask you. are senate democrats willing to make serious cuts, reforms to entitlements if you get added tax revenue and what are the prospects tor for a grand bar ? >> what he articulated is what we did in the bowles simpson commission and what we have done since. we said let's put everything on the table and i want to thank bob be for saying that. we have to, of course, pass the budget resolution in the senate. patty murray has done an extraordinarily good job and then move to the next stage and that is the grand bargain stage. both sides sitting down on a bipartisan basis not eliminating medicare as emhe afraid the paul ryan budget would do but making sure it survives for generations to come. putting revenues on the table that are fair and won't penalize the working people across america and making sure it is a balanced approach. i think what bob cor
it also means arranging our tax system so is that we have economic growth. and i think we have been saying that from day one. >> chris: well, senator durbin, i heard some give there from senator corker. let me he ask you. are senate democrats willing to make serious cuts, reforms to entitlements if you get added tax revenue and what are the prospects tor for a grand bar ? >> what he articulated is what we did in the bowles simpson commission and what we have done since. we said...
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they got the new obamacare tax and then they got the fiscal cliff tax and three months later the democratic budget and senate and haven't produced in four years and now they want another trillion dollars to take out of the economy. and it's-- how do the republicans deal with this? i mean, i had john boehner on my radio show and paul ryan on the show last night. what are your thoughts? what are they doing right and wrong? >> doing something, proposing budgets all well and good. they had a continuing resolution last week, that they could have used to try and cut some of obamacare administrative expenses, put some language in it in order to curtail obamacare. obamacare is the big killer in this society and not just of health care, but of liberty and the constitution, and what do they do? they vote for it. not only do they vote for it, they don't allow conservatives in the house to put an amendment on it. obama's not taking boehner seriously, he's kicking him around like a soccer ball. that's the problem, the republicans have got to show they mean something, if they don't, this is going to cont
they got the new obamacare tax and then they got the fiscal cliff tax and three months later the democratic budget and senate and haven't produced in four years and now they want another trillion dollars to take out of the economy. and it's-- how do the republicans deal with this? i mean, i had john boehner on my radio show and paul ryan on the show last night. what are your thoughts? what are they doing right and wrong? >> doing something, proposing budgets all well and good. they had a...
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they don't want any kind of revenue, any kind of taxes. some are ok with tax reform. but if you're going go through the text couple of years as a lawmaker you're dealing with a president who is liberal. i think that is an open question for the movement and for the party. >> rusty, i will start with you. if you were advising the conservatives within the republican party, what would you tell them to do for what robert is saying here, in terms of getting on the right course to solve this problem but, two, recognize you have elections coming up in a year and half. you have to deal with the political reality as well. what would you advising people that are coming out with republican budgets to do? >> we have to cut the budget. but we have to have a message -- >> that is not simple and you know it. >> of course it is simple. there are so much waste and fraud -- of course it is simple. >> it is understand but not simple to do. >> it is more simple than they are not doing, they are not trying to. the problem is -- >> you have to face that fact. the people who are going to vot
they don't want any kind of revenue, any kind of taxes. some are ok with tax reform. but if you're going go through the text couple of years as a lawmaker you're dealing with a president who is liberal. i think that is an open question for the movement and for the party. >> rusty, i will start with you. if you were advising the conservatives within the republican party, what would you tell them to do for what robert is saying here, in terms of getting on the right course to solve this...
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forhe plan would cut taxes everybody and eventually replace medicare with a voucher plan, cut medicaid by over $700 billion in 10 years. do the democrats have a better idea, mark? >> the democrats have a better idea by basically not letting anything compete in the spotlight with paul ryan's. numbersho looks at believe that you can cut the deficit in 10 years while simultaneously increasing defense spending and cutting 35 to 28, as from mitt romney proposed, but 39 to 25%. it is just a pipe dream. >> are we ever going to settle this thing, lois? >> and then we might. i think the charm offensive is working a little bit. mitch mcconnell is speaking well of the president in saying that we have useful meetings. his biggest problem might end up being the democrats, trying to move them through some sort of entitlement reform. >> evan? >> maybe obama has got some secret plans to, but i don't see it. this is too little too late. if he was serious about a grand bargain he would have started in november. instead, he behaved like a political hack for months, and then his polls go down and he says,
forhe plan would cut taxes everybody and eventually replace medicare with a voucher plan, cut medicaid by over $700 billion in 10 years. do the democrats have a better idea, mark? >> the democrats have a better idea by basically not letting anything compete in the spotlight with paul ryan's. numbersho looks at believe that you can cut the deficit in 10 years while simultaneously increasing defense spending and cutting 35 to 28, as from mitt romney proposed, but 39 to 25%. it is just a...
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half through spending cuts and half through tax hikes. senator corker, let me start with you: will senate republicans accept a tax increase, if you get serious entitlement reform and cuts? >> well, i think senate republicans and all republicans want to see a 75-year solution to entitlements. and, i think republicans are joined in wanting to see tax reform. so, to the extent that generates revenues and how that is scored, obviously, that will be debated as we move ahead but i think all of us understand the real issue driving the deficits we have in or country, are the entitlements, and, that what is we want to see solved and we want to see these available for generations, generations to come. >> chris: but, quickly, you understand the price for entitlement reform in any deal would be a tax increase. would you buy that and what do you think the prospects is there will be a deal sometime before this summer? >> well, again, i think... i think, there, by the way, is a chance on a deal. i know the president is saying the right things, and we ha
half through spending cuts and half through tax hikes. senator corker, let me start with you: will senate republicans accept a tax increase, if you get serious entitlement reform and cuts? >> well, i think senate republicans and all republicans want to see a 75-year solution to entitlements. and, i think republicans are joined in wanting to see tax reform. so, to the extent that generates revenues and how that is scored, obviously, that will be debated as we move ahead but i think all of...
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no amount of taxes can prop us up, even with chris minow promised tax hikes the deficit will be nearly trillion dollars in 2023. the answer is very clear. we have to fix entitlements and grow the economy. our budget takes the steps but also confronts a better challenge. our debt is a sign of overreach. it's a sign the federal government is doing too much. when government estimates, it doesn't do anything well. we need to make this point more often. we don't see the debt as an excuse to cut, to shirk obligations. we see it as an opportunity to reform government, to make it leaner and more effective. that's what conservatives stand for. that's who we are. [applause] a balanced budget is a reasonable goal because the returns government to proper limits and focus. the government overreaches, it doesn't just her paychecks. it hurts our quality of life. we need to make room for communities, for the vast middle ground between the government and individual. we need to remember that people don't find happiness in grim isolation or by government fiat. they find it through friendship, true for a
no amount of taxes can prop us up, even with chris minow promised tax hikes the deficit will be nearly trillion dollars in 2023. the answer is very clear. we have to fix entitlements and grow the economy. our budget takes the steps but also confronts a better challenge. our debt is a sign of overreach. it's a sign the federal government is doing too much. when government estimates, it doesn't do anything well. we need to make this point more often. we don't see the debt as an excuse to cut, to...
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. >> neil: at it time for our latest edition of "they say, we check." >> year going to mapping our way through this by identifying the lowe's risk detainees and putting them into alternative -- >> sorry, janet, not true. we checked on that. >> several hundred related to sequester but not thousands. >> neil: also not tr
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe?...
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growth or more tax and spend? >> despite this confidence in their plan, the reality is that the ryan plan will likely pass the house tomorrow and then die a lonely death in the upper, lower chamber. having garnered no bipartisan support whatsoever. but don't expect that to be the end of the budget tango. and don't expect it to be the end of finger-pointing, either. as the majority leader reminds us, nothing says deal maker like an inability to compromise. >> if the president wants to let our unwillingness to raise taxes get in the way, then we're not going to be able to set differences aside. >> joining us now from new orleans, is democratic political strategist, james carville, the author of many books, including his latest "it's the middle class, stupid" james, it's a joy to have you on the show. thank you for joining us. i didn't have time to get into the wagner budget and the carville budget, but i wonder with the proliferation of budgets, mr. carville, do you think we're any closer to any kind of deal? >> pro
growth or more tax and spend? >> despite this confidence in their plan, the reality is that the ryan plan will likely pass the house tomorrow and then die a lonely death in the upper, lower chamber. having garnered no bipartisan support whatsoever. but don't expect that to be the end of the budget tango. and don't expect it to be the end of finger-pointing, either. as the majority leader reminds us, nothing says deal maker like an inability to compromise. >> if the president wants...
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increase after the obama tax increase and the fiscal cliff tax increase. the point i was going to make to melissa is she's the business expert here. the economy is pick up, no questions about it. as that happens, bill, the tax revenues are going to increase a little bit so we maybe bailed out a little bit here, right, melissa by an improving economy. >> it's true if we don't do something to thwart it and knock it off the rails as it's trying to get better. if we don't ruin our own future. bill: it's much more morey more resilient. martha: pope francis break w-g tradition after celebrating mass. look at him om was out there shaking hands and touching people and getting out there, lots of face time and everybody was so excited because tears were streaming down their faces. he's expected to celebrate his inaugural mass in front of tense of house of worshippers in st. peters square tonight. we have not seen anything like this since pope john paul ii. no doubt it's giving his security folks many part attacks as he thrusts into the crowd there. they are also goi
increase after the obama tax increase and the fiscal cliff tax increase. the point i was going to make to melissa is she's the business expert here. the economy is pick up, no questions about it. as that happens, bill, the tax revenues are going to increase a little bit so we maybe bailed out a little bit here, right, melissa by an improving economy. >> it's true if we don't do something to thwart it and knock it off the rails as it's trying to get better. if we don't ruin our own future....
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you know, there are the taxes on assets, tax that are on insurance companies that are getting passed to consumer and you know maybe down the line there will be questionable taxes on savings accounts. you never know what the united states will do. neil: all i know, they are a heck of a lot more ways to be create testify get money than spending, very good points thank you, mike rigs in washington. >> to mike a point, the problem with small nation going after its citizens bank deposits, other bigger nations see how it goes, and markets world over fear all far it goes, which could explain why so many markets were tajin oing tankings thing. joe perry. and -- joe, what do you think? >> i think it is jjst as you said, this has been going on, for a while. and the bigger government gets, the more intrusive it gets it has been in your pockets, my pockets, my banks pockets by depositors pockets, large and small. what is happening now, like a story we use in banking called boiling a frog, you want to bl a frog, if you put him in boiling water he will jump o and complaint, this is what is happeni
you know, there are the taxes on assets, tax that are on insurance companies that are getting passed to consumer and you know maybe down the line there will be questionable taxes on savings accounts. you never know what the united states will do. neil: all i know, they are a heck of a lot more ways to be create testify get money than spending, very good points thank you, mike rigs in washington. >> to mike a point, the problem with small nation going after its citizens bank deposits,...
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i tend to lead toward the flat tax/fair tax. a flat tax put across the board and a consumption tax or payroll taxes which are still come what progressive. >> weird things about how opinions and politicians change. even president obama believes in lower tax rates or at least he did a year ago in something called principles for tax reform he says and the number one principle for tax reform lower tax rate. the tax system should be simplified and work for all americans with lower individual and corporate tax rates and fewer brackets. isn't that what the flat tax is all about? >> yeah. the flat tax basically gets people out of the tax so they can devote all of their brine cycles to their business. that is one of the great virtues and draws people together. if everybody is paying the same rate then i think we can unify this country again. and to mark's worry some what justifiable about the regressive nature toward poor people, just had a $30,000 or $40,000 or $50,000 the first 30, 40, 50 is exempt from taxes. so it doesn't hit the poo
i tend to lead toward the flat tax/fair tax. a flat tax put across the board and a consumption tax or payroll taxes which are still come what progressive. >> weird things about how opinions and politicians change. even president obama believes in lower tax rates or at least he did a year ago in something called principles for tax reform he says and the number one principle for tax reform lower tax rate. the tax system should be simplified and work for all americans with lower individual...
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i made 80% of those tax cuts permanent. we're just talking about closing loopholes which is what governor romney talked about. why aren't we bringing the fight to them on this issue. >> in some ways he has. he goes out and makes these--he goes out on the stump and makes these appearances and says these things. he may not say them the way you and i would like them. he may not say it as directly and emphatically as you and i would say them, but he's trying to say this stuff. whenever he does that, of course, the republicans say oh, he's out--he's in permanent campaign mode. why doesn't he come back to washington to negotiate. then he comes back to negotiate and they have say, well, nothing came out of it. he can't win with them. >> john: in fairness to the president, you and i don't have the burden to appear presidential. the great michael tomasky. thank you for coming on the show tonight. >> thank you. >> john: anti-police protest in brooklyn three nights running now. the shooting last week that may have started it, but this
i made 80% of those tax cuts permanent. we're just talking about closing loopholes which is what governor romney talked about. why aren't we bringing the fight to them on this issue. >> in some ways he has. he goes out and makes these--he goes out on the stump and makes these appearances and says these things. he may not say them the way you and i would like them. he may not say it as directly and emphatically as you and i would say them, but he's trying to say this stuff. whenever he...
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Mar 20, 2013
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the tax rate if you go up to more than 100,000 you're opens and tax rates according to the imf calculations 15.7%. remember it's not just russians, it's also businesses in cyprus. they have to make payroll, how are they going to do that if you suddenly impose this levee on them. the only parallels, the ready parallels are extreme circumstances in places like argentina for example when they froze accountants, when they broke the tag against the dollar in the 2000s. >> rose: how is the overall condition in europe, how would you describe it. >> at the moment in europe at the micro economic level we have a two-tiered europe. germany is doing very well and everybody else is struggling along. now things are much better than they used to be when the bond deals of spain and italy were much higher than they are now. because the markets are relatively relax. they trust the european central bank to do as they put it whatever it takes to save the euro. now the risk or the collapse of the euro has receded. that doesn't mean europe isn't in good condition. we are looking at two or more years of recession
the tax rate if you go up to more than 100,000 you're opens and tax rates according to the imf calculations 15.7%. remember it's not just russians, it's also businesses in cyprus. they have to make payroll, how are they going to do that if you suddenly impose this levee on them. the only parallels, the ready parallels are extreme circumstances in places like argentina for example when they froze accountants, when they broke the tag against the dollar in the 2000s. >> rose: how is the...
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the social programs in exchange for cooperation on tax reform during the debt ceiling debacle of two thousand and eleven for example he famously suggested raising the age at which seniors start receiving medicare benefits like bill clinton before him obama seems to have an obsession with compromise even when it screws the middle class clinton if you remember worked with newt gingrich in the republican house to pass the one nine hundred ninety six welfare reform bill a bill has made life miserable for the long term unemployed of the great recession because of social security net that obama now equal apparently says he supports will be equally as damaging what's even scarier is the president's flippant attitude toward programs millions of americans depend on just to get by in february said he didn't want to raise the medicare eligibility age but the question remains how much can we progress is trust someone who regularly plays politics with essential benefits and who is he actually fighting for we talked on the show before about obama's connections to pete peterson the wall street bill
the social programs in exchange for cooperation on tax reform during the debt ceiling debacle of two thousand and eleven for example he famously suggested raising the age at which seniors start receiving medicare benefits like bill clinton before him obama seems to have an obsession with compromise even when it screws the middle class clinton if you remember worked with newt gingrich in the republican house to pass the one nine hundred ninety six welfare reform bill a bill has made life...
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we balance the budget without raising taxes. we're actually growing the economy. it appropriates a fasters a healthier stronger economy to create more jobs. michael: the reason a lot of republicans probably voled against this bill is it doesn't stand a prayer in the senate. it is not going to pass the senate. this is almost a symbolic vote. they voted on this ryan budget now a number of times amounted i had has not really passed ever. john boehner was happy because what they did also today was approve by 318-109 a federal spending bill to keep the government funded through september 30, which averts a march 27 shutdown of the government. here is the speaker of the house excited by the vote. >> it is a good day for the american people. every family in america must balance their budget. today, us republicans passed our bold plan to balance the budget over the next 10 years. this budget does more than just balance. it helps improve people's lives and addresses the things i think they most care about fixing the tax code lowering rates means more jobs and higher wages
we balance the budget without raising taxes. we're actually growing the economy. it appropriates a fasters a healthier stronger economy to create more jobs. michael: the reason a lot of republicans probably voled against this bill is it doesn't stand a prayer in the senate. it is not going to pass the senate. this is almost a symbolic vote. they voted on this ryan budget now a number of times amounted i had has not really passed ever. john boehner was happy because what they did also today was...
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most of these european countries, they have 50% tax rates. they're already starting at a point where they'll have a hard time recovering. france has 75% tax rate. >> that's only just been raised. britain is 40%. let's just get the -- >> it's still high. >> if you're talking local taxes included -- >> what i'm trying to put to you, really, ron, is the idea of slashing the budget. >> not slashing. >> and balancing the budget in the way that you propose and way rand paul did this week and the way paul ryan does. >> i just don't understand -- >> all of the best kmist economn the world are telling us all that would do is force us back into a recession. >> i don't understand. remember, when the government spends $1, it has to take it from the private sector. you're taking money out. actually my girlfriend had a great article on this that if you look at our deficit, $1 trillion, how many jobs does that equal? over 100,000 jobs that we're taking out of the economy and spending in the deficits. it's this idea, this liberal multiplier effect that gover
most of these european countries, they have 50% tax rates. they're already starting at a point where they'll have a hard time recovering. france has 75% tax rate. >> that's only just been raised. britain is 40%. let's just get the -- >> it's still high. >> if you're talking local taxes included -- >> what i'm trying to put to you, really, ron, is the idea of slashing the budget. >> not slashing. >> and balancing the budget in the way that you propose and way...
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they want to cut government spending, if you argue we can't borrow more and can't tax moor. >> you make up an excuse. >> right. yet they don't want to be too alarmist. they don't want to cause a panic in the markets and then be blamed for it. they want to create the impression we are on the brink of that, when if fact if you look at the bond markets, interest rates are low over the short term and long term. there's no indication of what's usually ha pg when you have economic problems crated by a debt. we're just not seeing that. >> jared, in the book, the dragon starts off small, then gets very big and very scary, but by the end, it's reduced to a manageable size. interestingly that's not what paul ryan and others want. they want to kill the dragon with a balanced budget as quickly as possible, don't they? >> right. the idea of balancing the budget over x years is really -- >> in his case ten years. in rand paul's case four or five years. >> so is, a, antithey cal to what they need to be concerned about. in fact, anytime we've ever achieved a sustainable budget packet that's brought the
they want to cut government spending, if you argue we can't borrow more and can't tax moor. >> you make up an excuse. >> right. yet they don't want to be too alarmist. they don't want to cause a panic in the markets and then be blamed for it. they want to create the impression we are on the brink of that, when if fact if you look at the bond markets, interest rates are low over the short term and long term. there's no indication of what's usually ha pg when you have economic...
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of raising taxes. we do so in the service of creating a fairer tax code, funding investments for the future and in the service of a balanced approach to deficit reduction. if you take out the deficit reduction concerns and lord knows that any sort of inve investment spending right now is not going to pass muster with the house republicans, you're left with the fairness motive. a more just system would certainly be nice, does it offset the injustice of cutting benefits to folks who rely on social security? to scuttle a brand bargain deal, though, democrats need some sort of political cover. hmm. if only some republican would put out a really toxic, extreme, ideological plan that democrats could point to as continuing republican intransigence, they could walk away with not political consequence. you know, i think i know just the guy. all right. that does it for us here at "the cycle." martin bashir, all yours. >>> good afternoon, it's thursday march the 14th. who needs compromise on capitol hill when cpa
of raising taxes. we do so in the service of creating a fairer tax code, funding investments for the future and in the service of a balanced approach to deficit reduction. if you take out the deficit reduction concerns and lord knows that any sort of inve investment spending right now is not going to pass muster with the house republicans, you're left with the fairness motive. a more just system would certainly be nice, does it offset the injustice of cutting benefits to folks who rely on...
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taxes? control spending. washington spending is at the highest level in the history of the country. there is a spending problem in washington. it is not only heard in washington and our ability to balance the budget, it is hurting the economy. people in the country are going we men are managing to live within our means, why can -- we are managing to live within our means, why can't washington figure it out? >> as you know, democrats will not touch entitlement programs, she were willing to touch revenue. the you think we can really, think we canu really cut more? >> obama care is part of mandatory spending. each report says it will cost more money and add more to the deficit in the prior report. we have to address that problem. medicare right now is scheduled to go bankrupt. people say do not touch medicare. that means let it go bust. that is not right for seniors. it is not responsible for my generation and my kids. we have a plan to save it for bankruptcy so current seniors there would be n
taxes? control spending. washington spending is at the highest level in the history of the country. there is a spending problem in washington. it is not only heard in washington and our ability to balance the budget, it is hurting the economy. people in the country are going we men are managing to live within our means, why can -- we are managing to live within our means, why can't washington figure it out? >> as you know, democrats will not touch entitlement programs, she were willing to...
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a lot of democrats who consider ourselves to be fiscally responsible is of course, you had the bush tax cuts. then right after, you had the attacks on september 11th and you had the war on afghanistan, which i supported and almost all of the members of congress did, because those were the people that attacked us. but then, you had the war in iraq and both afghanistan and iraq were fought as quote emergencies, which means they weren't included in the annual deficits. so, now, when they're talking about a budget that cuts student loan programs for gi members, people coming back from iraq and afghanistan now they're not getting their student loans. because this was all fought off budget. i think that's political malpractice on the part of the republican party. they should have budgeted for this. >> well, from a congressional physician of the soul like diana degette, thank you so much. now to dr. james peterson, msnbc analyst and director of africana studies. professor, millions oppose the war, but as you know, and i'm sure you remember, their voices were significantly marginalized. give us
a lot of democrats who consider ourselves to be fiscally responsible is of course, you had the bush tax cuts. then right after, you had the attacks on september 11th and you had the war on afghanistan, which i supported and almost all of the members of congress did, because those were the people that attacked us. but then, you had the war in iraq and both afghanistan and iraq were fought as quote emergencies, which means they weren't included in the annual deficits. so, now, when they're...
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Mar 15, 2013
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the richest industry in the world does not need our tax subsidies. there's still a lot of subsidies going for american corporations when they offshore jobs. >> but the republicans haven't identified any of them yet, have they? >> well, they're not willing to talk about it other than loose generalized, terms. you need to get down to the nitty-gritty. they don't do that. but there's many out there that the taxpayers are giving away to very wealthy corporations and individuals not necessarily toward the growing of the economy. there are things that can be done to rein in those loopholes and we need to do it. whether that gives us the money we need to lower the corporate tax rate as we've closed those loopholes, that's a discussion that needs to be taking place. >> tim, what do you think? >> well, we had a budget mark-up last night. we were in until about 11:30 in the evening marking up the paul ryan budget. there was an amendment that said we need to protect the mortgage tax deduction for middle class people. and every republican voted against that demo
the richest industry in the world does not need our tax subsidies. there's still a lot of subsidies going for american corporations when they offshore jobs. >> but the republicans haven't identified any of them yet, have they? >> well, they're not willing to talk about it other than loose generalized, terms. you need to get down to the nitty-gritty. they don't do that. but there's many out there that the taxpayers are giving away to very wealthy corporations and individuals not...
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Mar 16, 2013
03/13
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democrats are talking about getting rid of tax breaks and taxes. limiting the values of certain tax breaks. that is what they are talking about right now. they want to get rid of the tax breaks and get rid of them. >> the paul ryan plan a party takes into account these rates approved by congress. >> yes, that is right. about $600 billion in new taxes over 10 years. it helps to balance the budget. >> any surprises from the senate budget committee markup yesterday? >> well, a little surprised that she was able to hold the line. ten republicans and democrats on the committee. but she could not afford to use a single one. she had both of them support the deal. so the process move to the floor, which will make it much easier for her to pass. >> we want to share with you two things. the senate budget budget committee with a focus on the rising debt, increasing over trillion dollars per year for the last for five years. >> gas. >> is the exchange yesterday with a republican from wisconsin. >> the cbo starts with $26 billion worth of debt. then they includ
democrats are talking about getting rid of tax breaks and taxes. limiting the values of certain tax breaks. that is what they are talking about right now. they want to get rid of the tax breaks and get rid of them. >> the paul ryan plan a party takes into account these rates approved by congress. >> yes, that is right. about $600 billion in new taxes over 10 years. it helps to balance the budget. >> any surprises from the senate budget committee markup yesterday? >>...
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Mar 13, 2013
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simple math shows that this budget will finance large tax cuts for the wealthiest by raising the tax burden on middle class taxpayers. the budget calls for dropping the top tax rate from 39% to 25% , cutting the rate for millionaires by more than 1/3 while holding all other revenues constant. just last fall the nonpartisan tax policy center did an analysis of a far more modest plan put forward by governor romney to reduce the top tax rate from 35% to 28%. and they showed it would inevitably raise the income tax burden on individuals making under $200,000 a year. this budget proposal which provides even bigger tax cuts to millionaires will raise the tax burden on middle income families by an average of $2,000. at the same time, same time it does not close one single special interest tax loophole for the purpose of reducing the deficit. not one dime from ending special breaks for corporate jets, big oil companies, or hedge fund managers to help us reduce the deficit. while providing this windfall to the very healthy, this proposal guts vital investments that are essential to shared pro
simple math shows that this budget will finance large tax cuts for the wealthiest by raising the tax burden on middle class taxpayers. the budget calls for dropping the top tax rate from 39% to 25% , cutting the rate for millionaires by more than 1/3 while holding all other revenues constant. just last fall the nonpartisan tax policy center did an analysis of a far more modest plan put forward by governor romney to reduce the top tax rate from 35% to 28%. and they showed it would inevitably...
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Mar 15, 2013
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reform by closing loopholes and special tax breaks for the well-off and well-connected and using the revenue generated from that to help pay down our deficit. that's the way we should be doing it. that's the way the american people want it done, not just democrats and independents but republicans outside of washington. and he's at least hopeful that engaging with republicans on this issue with those who say they're interested in finding common ground, we might be able to produce acompromise. and that would be a good thing for the american economy and a good thing for the american middle class. >> are there any indicators at this juncture that there are some come grounds being found? >> i think you saw with the dinner with the group of senatoring saying they would be willing to consider a balanced approach, consider revenue from tax reform coupled with, you know, a savings generated with entitlement reform and that's essentially the president's position and what he's put forward in his proposal. we'll see. the gap is wide. we saw with the house republican budget proposal presented thi
reform by closing loopholes and special tax breaks for the well-off and well-connected and using the revenue generated from that to help pay down our deficit. that's the way we should be doing it. that's the way the american people want it done, not just democrats and independents but republicans outside of washington. and he's at least hopeful that engaging with republicans on this issue with those who say they're interested in finding common ground, we might be able to produce acompromise....
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Mar 14, 2013
03/13
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the democrats say now that, yes, we must have tax hikes, or tax something -- tax revenue, and we must have spending cuts. and that's unusual -- >> neil: but they're quicker at identifying the tax hikes than the spending cuts, and when it comes to republicans, what they offer on spending cuts of their own, don't address defense. although paul ryan has entertained caps. >> people watching the show should realize our deficits grow in both plans, and ryan's plan is for progrowth. but both sides okay with the spending and both sides -- democrats-saying something about taxes. but there's $100 billion in there for a new stimulus plan, which i don't know how well that's going to fly. and then ryan keeping in the notion of appealing obamacare has to -- >> move on. >> that's not going to work at least for the next four years. so you keep it in there, maybe it's something you give up during negotiations. i think people watching the show should feel more hopeful, but to your point, the chasm, we're so far away from a deal, something i wouldn't bet on. >> neil: democrats claim their budget will sl
the democrats say now that, yes, we must have tax hikes, or tax something -- tax revenue, and we must have spending cuts. and that's unusual -- >> neil: but they're quicker at identifying the tax hikes than the spending cuts, and when it comes to republicans, what they offer on spending cuts of their own, don't address defense. although paul ryan has entertained caps. >> people watching the show should realize our deficits grow in both plans, and ryan's plan is for progrowth. but...
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Mar 18, 2013
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today from the hill shows while americans might be sympathetic to republican's ideas about lowering taxes they still trust the president to handle the economy. 65% said u.s. budget deficit should be reduced by cutting spending. but 35% said they trust the democrats more. so to regain the public's trust they have done an autopsy of the 2012 campaign. the rorpt has a lot of style but not a lot of serious substance. in it the word messaging appears 77 times technology in there 42 times, and then there is the long list of things that got no mention at also. health care inequality and others. the plan also pointed to some other issues, and no bashing poor people at all. the plan says low-income americans are hardworking people who want to become hard-working middle-income americans of course paul's plan would make it harder than ever to allow poor people to join the middle class. next up, reagan. enough already. the youngin's at all don't even remember him. they also pledge to be flexible on gay rights even though republicans are spending millions defending the discriminatory defense of marria
today from the hill shows while americans might be sympathetic to republican's ideas about lowering taxes they still trust the president to handle the economy. 65% said u.s. budget deficit should be reduced by cutting spending. but 35% said they trust the democrats more. so to regain the public's trust they have done an autopsy of the 2012 campaign. the rorpt has a lot of style but not a lot of serious substance. in it the word messaging appears 77 times technology in there 42 times, and then...
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Mar 16, 2013
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you will get less tax renue when the economy is smaller. this is something that the market understands. they want to see the economy grow. less in the future is better for the economy and markets. neil: that would mean no that if we are continuing on this trend, everything that the markets are celebrating right now, slobby sequestration, whenever you want to call it could be short-lived and there could be problems. what do you see happening? >> well, i think rand paul messages effective not only for the markets, but for the economy and the country at large because he is making a connection between economic liberty and prosperity. he understands that does look to the 20th-ctury. always the most prosperous countries are always the most free. and the message of essentially constitutionality, individual rights, that is tremendously bullish for the market. bullish for the economy. hitting t nail on the head. the fact that everything investors are seeing that we had a sequestered. this guy did not fall. there is still more work to be done in term
you will get less tax renue when the economy is smaller. this is something that the market understands. they want to see the economy grow. less in the future is better for the economy and markets. neil: that would mean no that if we are continuing on this trend, everything that the markets are celebrating right now, slobby sequestration, whenever you want to call it could be short-lived and there could be problems. what do you see happening? >> well, i think rand paul messages effective...
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Mar 21, 2013
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. >> and russian tax money. stuart: i was going to ask, this mob they have taken, somehow siphoned money off the russians. when i think of mob i think of prostitution and illegal gambling. in russia, it's siphoning off money. >> yes, you have magnates that don't want irs scrutiny, swiss scrutiny, cyprus is the place to go. it's not just traditional mobsters, there's a nexis in moscow between putin's russia between the officials and corrupt individuals. stuart: go on and say it, is putin pals with the mob? >> you would think he wouldn't mind. if people who are skirting russian taxes, hiding money in cyprus were getting a 10% haircut, you'd think he wouldn't mind, but he's upset and the cypriot foreign minister is grovelling. >> and here you say they're saying they're going to grab some of the mob money, the germans told them to do that. >> that's right, angela merkel saying, eat your vegetables, beyond keynesian, a money grab. and ecb and imf as well all of these bad actors. >> you've got cyprus playing off the r
. >> and russian tax money. stuart: i was going to ask, this mob they have taken, somehow siphoned money off the russians. when i think of mob i think of prostitution and illegal gambling. in russia, it's siphoning off money. >> yes, you have magnates that don't want irs scrutiny, swiss scrutiny, cyprus is the place to go. it's not just traditional mobsters, there's a nexis in moscow between putin's russia between the officials and corrupt individuals. stuart: go on and say it, is...
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Mar 20, 2013
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they want to cut taxes and cut the deficit at the same time. those are their two agenda items. you can't do both. they are just trying to ignore it and hope it goes away. >> now, when you look at the reaction, patricia, there's no wonder they are being defeated at the polls and poll after poll shows that americans are not going their way but i think this only further drives the wedge between the american voters because people are offended when it is clear you are not even being honest with them. >> well, yeah. and i think what americans are really want is just an honest discussion of the issues and if people come at an issue and have an honest disagreement and use facts that are accurate, you can have that discussion and debate. but when you come out of a discussion with facts that are not true that "the washington post" says are four pin knock key ohios, you can't even start to talk about things in an honest way and that's why michele bachmann has gotten into so much trouble. she won her last wasn't by a point. she's a huge target for democrats coming up in the next election c
they want to cut taxes and cut the deficit at the same time. those are their two agenda items. you can't do both. they are just trying to ignore it and hope it goes away. >> now, when you look at the reaction, patricia, there's no wonder they are being defeated at the polls and poll after poll shows that americans are not going their way but i think this only further drives the wedge between the american voters because people are offended when it is clear you are not even being honest...
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Mar 17, 2013
03/13
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$3 million would pay $203,000 less in taxes if they give up all their tax breaks. if they don't, they pay $345,000 less. so senator, the problem with the proposal is he doesn't say where he'll make up for the lost revenue. where do you get a sense the cuts are going to come from? >> well, in terms of the budget that was proposed by the house of representatives, cuts are coming primarily or savings are coming primarily from reform of social security, medicaid, and reform of medicare as well as cuts in discretionary spending, moving some of them away from defense and other areas of government. the difference in the two budget, the ten-year prospect of that passed in the house of representatives is $41 trillion spending over ten years. the senate budget, which was just approved thursday night by the senate budget committee, spends $46 trillion. so you've got two differences. the senate is trying to spend more. house republicans are trying to be more efficient. >> let me ask you this, senator. president obama is trying a new strategy. he's reaching out to congress, hol
$3 million would pay $203,000 less in taxes if they give up all their tax breaks. if they don't, they pay $345,000 less. so senator, the problem with the proposal is he doesn't say where he'll make up for the lost revenue. where do you get a sense the cuts are going to come from? >> well, in terms of the budget that was proposed by the house of representatives, cuts are coming primarily or savings are coming primarily from reform of social security, medicaid, and reform of medicare as...
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Mar 19, 2013
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this is a big deal. >> neil: this was an asset tax. something to which we're not immune here because with the healthcare law, there's the medicare hsu tax on selling real estate and x amount. so we already have that built in. so the -- i'm not saying the next stop is the depositor tox but we do have asset tax. >> absolutely there has been talk about the consumer financial protection bureau taking control and oversight of 401k accounts so they can make sure people aren't being ripped off. if you undermine the whole idea of savings, we already have a nationy we're not saving enough for retirement. all we need to do is undermine our financial system as well and it's just disaster on the way. >> neil: i'm not happy. if you don't watch fox business, she's going to come with her best-selling book and force you to read it. >> a fox news alert. the white house easter egg roll is not at risk. why there is an excess warning we're all about to get scrambled most people think that after an accident, you'll have to pay five hundred bucks for your d
this is a big deal. >> neil: this was an asset tax. something to which we're not immune here because with the healthcare law, there's the medicare hsu tax on selling real estate and x amount. so we already have that built in. so the -- i'm not saying the next stop is the depositor tox but we do have asset tax. >> absolutely there has been talk about the consumer financial protection bureau taking control and oversight of 401k accounts so they can make sure people aren't being ripped...
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Mar 16, 2013
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some people can agree on one level taxes ought to be at. fundamental disagreements that are fought out in elections. >> you cannot ignore the math. let's be clear abouthat. >> totally different from the blue smoke and mirror games that are being played by investors. j.p. morgan. other investors. neil: the only thing i will save, and pick up on this point. the difference was that the company quickly seized and acknowledged the mistakes, on up to the mistakes, plus representatives of the company for the mistakes and/or held accountable by shareholders for those mistakes. the shareholderr ultimately are th owners and the company and came back in place their confidence in the way the company handled it. >> epicure exactly right. what congress is doing is ignoring math because we have interest payments that we have to pay every year, just like you have to pay the interest on your mortgage. we have an interest payment, 250 billion per year. ten years looking at nearly a trillion dollars per year just per. 1 trillion. where will we get that? we ha
some people can agree on one level taxes ought to be at. fundamental disagreements that are fought out in elections. >> you cannot ignore the math. let's be clear abouthat. >> totally different from the blue smoke and mirror games that are being played by investors. j.p. morgan. other investors. neil: the only thing i will save, and pick up on this point. the difference was that the company quickly seized and acknowledged the mistakes, on up to the mistakes, plus representatives of...
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Mar 18, 2013
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they don't want any kind of revenue, any kind of taxes. some are ok with tax reform. but if you're going go through the text couple of years as a lawmaker you're dealing with a president who is liberal. i think that is an open question for the movement and for the party. >> rusty, i will start with you. if you were advising the conservatives within the republican party, what would you tell them to do for what robert is saying here, in terms of getting on the right course to solve this problem but, two, recognize you have elections coming up in a year and half. you have to deal with the political reality as well. what would you advising people that are coming out with republican budgets to do? >> we have to cut the budget. but we have to have a message -- >> that is not simple and you know it. >> of course it is simple. there are so much waste and fraud -- of course it is simple. >> it is understand but not simple to do. >> it is more simple than anything they are not doing, they are not trying to. the problem is -- >> you have to face that fact. the people who are goi
they don't want any kind of revenue, any kind of taxes. some are ok with tax reform. but if you're going go through the text couple of years as a lawmaker you're dealing with a president who is liberal. i think that is an open question for the movement and for the party. >> rusty, i will start with you. if you were advising the conservatives within the republican party, what would you tell them to do for what robert is saying here, in terms of getting on the right course to solve this...
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Mar 15, 2013
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the president a tax hike. i want to mention this politico had done from this morning. guest: republicans have seized the moment. democrats seem to be planning cliff during the fiscal tops. bell americans say, democrats, you have your tax increases, let's focus on spending cuts. republicans seem to be manning them that message -- managing that message well right now. host: our guest is damian paletta this morning. theou are listening on radio, here are the phone lines. 3881.licans, 202-585- democrats, 202-585-3880. $975 billion in targeted cuts with regard to health care, military, other programs. it also raises $975 billion in new revenues from closing " -- closing tax loopholes. $100 billion in stimulus spending focusing on job training and infrastructure. house republican plan has $1.80 trillion in savings from the repeal of the health care law. it leaves $1 trillion in automatic cuts as a result of sequestration. it includes $962 billion in cuts from agriculture subsidies and food stamps, reduces money for
the president a tax hike. i want to mention this politico had done from this morning. guest: republicans have seized the moment. democrats seem to be planning cliff during the fiscal tops. bell americans say, democrats, you have your tax increases, let's focus on spending cuts. republicans seem to be manning them that message -- managing that message well right now. host: our guest is damian paletta this morning. theou are listening on radio, here are the phone lines. 3881.licans, 202-585-...
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Mar 13, 2013
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increase, the start of the year, tax refunds were delayed. gas prices increased very sharply in the month. on top of that the weather map looked like grand central terminal for a snowstorm. lou: i just want to inject, when you say refund's amount of refunds were affected on this, as we understand it. that is just a narrow portion, if you will. still significant. >> there were some delays. that meant refund checks. lou: it was not the irises felt we should point out. >> it was the fiscal cliff issue lou: as we look at this, the forecast adjustment, you look at net exports, and that inspired you. >> part of it is net exports. that is a sector that it really carry the economy from the end of the recession up until about middle of last year, and then it dropped off as things fell apart in europe, china growth wobbled, japanese growth looked pretty soft as well. lou: happening in japan. >> i love it. and more importantly, the economy looks fantastic. the housing sector continues to skyrocket. lou: don't tell me. >> spending. lou: what they call th
increase, the start of the year, tax refunds were delayed. gas prices increased very sharply in the month. on top of that the weather map looked like grand central terminal for a snowstorm. lou: i just want to inject, when you say refund's amount of refunds were affected on this, as we understand it. that is just a narrow portion, if you will. still significant. >> there were some delays. that meant refund checks. lou: it was not the irises felt we should point out. >> it was the...
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Mar 20, 2013
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worldwide the parliament in cyprus rejects a plan to tax its bank depositors. the euro falls to its lowest level since november. >>> ben bernanke and the fed get down to business. what should we expect after its two-day meeting ends tomorrow? we'll ask former federal reserve governor randy crosser in. >> and what does the ceo of one of the world's iconic brands think of the economy and the american consumer? susie sits down with the top man at coca-cola. all that and more coming up right now on "nbr." good evening and welcome to our public television viewers. susie, once again, little cyprus making big economic noise today. >> you're right, tyler. actually a big win for citizens in cyprus. lawmakers rejected today an unpopular and unprecedented proposal to tax bank deposits. it was part of a larger eurozone bailout plan to rescue those banks and keep the nation solvent. the crucial vote came after a wave of protests, and as cypr t cypriots scrambled to withdraw cash from their atms. bertha coombs joins us with more on today's historic vote and what's ahead for
worldwide the parliament in cyprus rejects a plan to tax its bank depositors. the euro falls to its lowest level since november. >>> ben bernanke and the fed get down to business. what should we expect after its two-day meeting ends tomorrow? we'll ask former federal reserve governor randy crosser in. >> and what does the ceo of one of the world's iconic brands think of the economy and the american consumer? susie sits down with the top man at coca-cola. all that and more coming...
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in fact we balance the budget in ten years without raising taxes! [applause] how do we do this? you know it's really pretty simple. we stop spending money we don't have. >> reporter: shocker. shocker. the gridlock in washington has definitely seeped across the potomac to the convention here of cpac in maryland. they are very much aware what is going on. there is a tremendous amount of frustration with the ongoing attempt by democrats to not balance the budget. they say they will reduce the overall deficit over the course of next decade. paul ryan and others say that is totally unacceptable. ryan, running for 2016 himself, been vice-presidential nominee, that raised his profile and a lot of national attention. house members have a hard time for running for president. it puts a big target on your back. paul ryan will deal with that in next 3 1/2 years. bill: a parlor game will be played out at the convention. it is a cpac straw poll. the significance of it and explain that and who will you hear from also today still, carl. >> reporter: the straw polls are not worth very much no ma
in fact we balance the budget in ten years without raising taxes! [applause] how do we do this? you know it's really pretty simple. we stop spending money we don't have. >> reporter: shocker. shocker. the gridlock in washington has definitely seeped across the potomac to the convention here of cpac in maryland. they are very much aware what is going on. there is a tremendous amount of frustration with the ongoing attempt by democrats to not balance the budget. they say they will reduce...
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Mar 15, 2013
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there is no prospect for tax relief on the horizon. taxes keep going up. brand new health care bill in place that folks don't understand. going to destroy their health care system, not to mention add to their cost of their business. and the federal government last year in the midst of this terrible recession, the midst of this difficult economy, added $33.9 billion in additional costs through regulatory activity that's going to take 81 million hours to complete. let's do some back of the envelope math, mr. speaker. 81 million hours. the average work year, 40 hours a week, you work 50 weeks a year, that's 2000 hours. 000 hours. that's 40,000 people. who will spend every working all of every working day year long just to meet the new federal regulatory burden. mr. speaker, i don't wonder why it is that entrepreneurial activity is the lowest it's been since we began keeping records. the wonder is that folks are still trying at all. i had someone say that to me, mr. speaker. i was visiting with a group of honor students. i represent two counties in the north m
there is no prospect for tax relief on the horizon. taxes keep going up. brand new health care bill in place that folks don't understand. going to destroy their health care system, not to mention add to their cost of their business. and the federal government last year in the midst of this terrible recession, the midst of this difficult economy, added $33.9 billion in additional costs through regulatory activity that's going to take 81 million hours to complete. let's do some back of the...